The White House has announced nominations for key positions in the banking and financial regulatory sectors. Jonathan McKernan, a former Federal Deposit Insurance Corporation (FDIC) board member, is set to become the full-time director of the Consumer Financial Protection Bureau (CFPB).
McKernan’s appointment comes after the Trump administration effectively froze the watchdog agency due to internal upheaval. If confirmed by the US Senate, McKernan will take over an agency facing significant challenges.
In addition, Jonathan Gould and Brian Quintenz have been nominated for the Office of the Comptroller of the Currency (OCC) and Commodity Futures Trading Commission (CFTC), respectively.
Gould, a former law firm partner and chief counsel to the Senate Banking Committee, will lead the OCC if confirmed. The OCC regulates large national banks.
The CFTC is expected to play a more prominent role in cryptocurrency regulations under the new administration. Quintenz, who previously advised the Trump transition team on crypto policy, will chair the CFTC if nominated.
Source: https://www.reuters.com/world/us/white-house-nominates-new-chiefs-bank-market-regulators-2025-02-12